Episode 254. From Crisis to Chaos: Is the Housing System Beyond Repair?
In this episode, I confront the accelerating dysfunction in Ireland's housing system. I explore why the traditional narrative that paints landlords as villains is flawed and how the exodus of landlords is shrinking rental supply, driving rents to unsustainable levels. I dive into the unintended economic consequences of this landlord exodus and the knock-on effects it has on recruitment, foreign investment, and job growth.
The episode also tackles the failed appointment of a "housing czar" and the political gridlock stalling progress, as well as the economic warning from Ireland's Central Bank governor. I question whether we're truly facing a crisis—or has it now become chaos?
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Takeaways
- The vilification of landlords is damaging the rental market and shrinking supply.
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A functional housing system must serve renters as well as owner-occupiers.
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30% of Q1 2025 property sales were landlords exiting the market; only 8% were landlord purchases.
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A net 22% decline in rental stock is unsustainable and driving rent inflation.
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Professional and corporate relocation is being hindered by the lack of rental options.
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The government's political infighting derailed the appointment of a housing leader (housing czar).
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We need a CEO-level figure with a PLC skillset to solve a €17.5B housing shortfall.
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Ideology must give way to pragmatic solutions—fast.
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Economic headwinds (e.g., US tariffs) increase the urgency for housing reform.
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The system needs to serve all families—not just those with mortgage approval.
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